Karnataka rain fury: Photos of flooded streets, uprooted trees
Cannes 2022: Deepika Padukone stuns at the French Riviera in Sabyasachi outfit
Ranbir Kapoor And Alia Bhatt's Wedding Pics - Sealed With A Kiss
Oscars 2022: Every Academy Award Winner
Shane Warne (1969-2022): Australian cricket legend's life in pictures
Photos: What Russia's invasion of Ukraine looks like on the ground
Lata Mangeshkar (1929-2022): A pictorial tribute to the 'Nightingale of India'
PM Modi unveils 216-feet tall Statue of Equality in Hyderabad (PHOTOS)
Wedding pics: Mouni Roy marries Suraj Nambiar in South Indian ceremony
73rd Republic Day Parade 2022 - In Pictures
Olympic bronze medallist Bajrang Punia has been provisionally suspended by the National An
- Laureus Award 2024 : Novak Djokovic, Aitana Bonmati win top honours at Laureus Sports Awards
- Asian Games medallist Jyothi Yarraji to train in Spain ahead of Paris Olympics
- Lione Messi said Retirement not on my mind
- Indian Wells: Alcaraz, Swiatek win titles
- African footballer chased and thrashed away in Kerala; reports
Centre releases Rs 75,000 crore to states & UTs as GST compensation shortfall Last Updated : 16 Jul 2021 04:22:43 AM IST 
The Central Government on Thursday said it has released Rs 75,000 crore to the States and Union Territories to compensate them for the shortfall in GST revenue. At the 43rd GST Council Meeting held on May 28, it was decided that the Centre would borrow Rs 1.59 lakh crore and release it to States and UTs to meet the resource gap due to the short release of compensation on account of the inadequate amount in the compensation fund.
"The Ministry of Finance has released today Rs 75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection," the ministry said in a statement.The total GST compensation that states would be getting in FY22 would be ₹2.59 lakh crore. The part of it paid out of proceeds of GST cess levied on items like automobiles is being released to states on a bimonthly basis.Amount of compensation financed through debt will form part of states’ fiscal deficit, not the government’s.States with large economies are the biggest recipients of compensation in absolute terms. Karnataka received ₹8,542 crore, Maharashtra ₹6,501 crore and Gujarat ₹6,151 crore. Haryana, Kerala and Punjab gained big.IANS New Delhi For Latest Updates Please-
Join us on
Follow us on
What binds the two most talked about nations - India and Pakistan together? What makes the
Actor Emraan Hashmi is set to don a never-seen-before avatar of the freedom fighter -- Ram
LG Electronics Inc said on Wednesday that it will introduce new C with its artificial inte
172.31.16.186
